The commission, it was learnt, had also enacted the Bulk Procurement Guidelines that would ensure the efficient and orderly procurement of large capacity generation in the future.
“Apart from Azura , there is no new power plant that is on. Even the much talked about Aba Power by Geometrics has not come on. So typically, many investors took licenses but cannot generate power. He said, “They came to us and said they had financiers from China Eximbank and many big names in the financial sector, but when they now have to go and sign the PPA for gas, then they are stuck.
He said, “The way forward for me is that the government should build the power plants and sell or lease them to the private sector. It will be difficult for private entities to build power plants in Nigeria quickly. “So the failure of the licensees to invest is simply a failure of faith of the private sector in the industry. I’ve always argued that the private sector is there for their money,” he stated.
Also speaking on why licensees had refused to generate electricity, operators who currently produce electricity stated that they were being over N1tn by the sector and this had been a source of discouragement to investors.
Beginning of our 🇳🇬 problem
Genesis 1:26, Psalm 115:16. Untill all Nigerian electricity consumers have pre-paid meters, investing in power generation will be a mirage. Our case is like a transporter give tricycle, motorcycle to riders for transport but removed the plugs ( prepaid meters
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